CANON INDIA REPORTS 49% GROWTH

[Anonymous]

http://www.siliconindia.com/shownews/Canon_reports_a_49_percent_printer_growth-nid-59660.html
Canon reports a 49% printer growth
Bangalore:
Cannon India has announced a 49 percent growth in its printer business
in the first half of 2009. Even after facing global economic slowdown
and credit crunch from Small and Medium Enterprises (SMEs), who are
their most critical customers, the company has still managed to achieve
high growth. “The company hoped to cross Rs.800 crore in overall
business this year, as against Rs.665 crore in 2008.The most
significant growth was witnessed in the laser printer vertical, which
grew 127 percent in the first six months this fiscal even though the
industry average was negative four percent. The strong growth in the
laser printer segment has helped the company improve its market share
in the printer vertical from eight percent in 2007 to 13 percent in
2008 and 30 percent in the first half of 2009,” said Alok Bharadwaj,
Senior Vice President, Canon India.

Bhardwaj also said that it
very challenging for the company to attain higher revenues in first six
months of the year but they were able to achieve their target by
focusing on selected cities and the emphasis on cost-saving printers
which have been in demand. “Because of the economic crunch, the
B2B(business-to-business) market has been seeking cost-saving features
and our main proposition to the market this year has been the
cost-saving aspect”, said Bharadwaj.

The lack or credit
availability had adversely affected the sales of high end copiers,
according to Bhardwaj. He says that high end copiers that are priced
from Rs.50,000 to Rs.6 lakh have struggle to collect revenue while the
lower end product range comprising laser printers in the price range of
Rs.5,000 to Rs.50,000 have continued to show strong sales.

[Author]

July 24, 2009 at 1:39 PM